Posts in June 2008
Saudi Arabia to Call Opec Summit
Saudi Arabia says it will call a summit of oil producers and consumers in an effort to stem the surge in the price of oil. The world’s biggest producer said recent rises, including the record $10 leap on Friday, were not justified by market fundamentals and it would work with Opec to guarantee supplies.
Green Groups to Sue Over Polar Bears
Two environmental groups have filed notice that they plan to sue the US federal government for not imposing new regulations on oil development in Alaska’s Arctic waters as part of offering protective status to polar bears. The Center for Biological Diversity and Pacific Environment said the Interior Department is violating the Endangered Species Act by…
Continue reading ‘Green Groups to Sue Over Polar Bears’.Oil Shortage a “Myth”, Says Industry Insider
Soaring oil prices, talk of peak oil… there is really nothing to worry about says a former oil man who claims that there is over twice as much oil in the ground as major producers say. Although it is widely assumed that the world has reached a point where oil production has peaked this idea…
Continue reading ‘Oil Shortage a “Myth”, Says Industry Insider’.Doing nothing is not an opton .. but let’s do nothing
Another day of political deadlock in the US Senate on Friday, when Senators pulled a major global warming bill that would have mandated major cuts in greenhouse gas emissions. In a 48 to 36 vote, the Climate Security Act of 2008 (S. 3036) fell a dozen votes short of the needed number to end debate…
Continue reading ‘Doing nothing is not an opton .. but let’s do nothing’.UK Airlines Receive $20bn Subsidy
The British Government is being urged to abolish a $20bn-a-year “hidden subsidy” to the airline industry, which is due to the fact airlines do not pay fuel duty or VAT on the fuel for its planes. “This is a massive public subsidy for an industry that is one of the fastest-growing contributors to climate change,”…
Continue reading ‘UK Airlines Receive $20bn Subsidy’.Oil Sands Project Gets Goahead
The crude politics of oil sands is laid bare for all to see. Despite a court ruling stopping the oil sands project the Canadian government is giving Imperial Oil the green light to begin construction of its $8-billion Kearl oil sands mine. In a notice yesterday, the government said the federal cabinet endorsed an environmental…
Continue reading ‘Oil Sands Project Gets Goahead’.Carbon Credits: Getting Money for Nothing…
Evidence of serious flaws in the multi-billion dollar global market for carbon credits has been uncovered by a BBC World Service investigation. The credits are generated by the UN Clean Development Mechanism (CDM) scheme. The mechanism gives firms in developing countries financial incentives to cut greenhouse gas emissions. But in some cases, carbon credits are…
Continue reading ‘Carbon Credits: Getting Money for Nothing…’.Oil Spill Threatens Buenos Aires
Workers are battling to dissolve an oil spill heading towards the coast of Argentina after two ships collided off the coast of neighbouring Uruguay. The spill, reported to be 20km (12 miles) long, is being blown towards the Argentine capital, Buenos Aires.
Going backwards, further and faster…
Happy World Environment Day! Not so in America, though. It may be the most polluting and dirty oil on the planet, but American refiners are tripping over themselves to make investments to dramatically increase imports from Alberta’s oil sands. Figures released yesterday show that the oil industry is spending about $53 billion to expand or…
Continue reading ‘Going backwards, further and faster…’.US Climate Goals “Unachievable”
Happy Environment Day, story Number 2. No surprises here really, by the US will tell a July meeting of the G8 that it cannot meet big cuts in greenhouse gases by 2020, its chief climate negotiator Harlan Watson said. “It’s frankly not do-able for us,” he said, referring to a goal for rich countries to…
Continue reading ‘US Climate Goals “Unachievable”’.
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